Mr. Paul Cowley reports
PHENOM ANNOUNCES 85% OF WARRANTS EXERCISED - RECENTLY RECEIVING $1,236,586
A total of 9,151,582 Phenom Resources Corp. warrants priced at 26 cents with an expiration of July 9, 2023, were exercised, adding a total of $2,795,992 to the treasury over three years; an 85-per-cent exercise rate. In July, 2023, alone, 4,756,009 of the warrants were exercised for proceeds of $1,236,586. The warrants were offered in connection with a $1.6-million financing which closed on July 9, 2020. The company now has a total of 95,003,664 shares issued and outstanding.
"I am extremely pleased to report a successful warrant exercise for the company. I would like to thank shareholders for their vote of confidence in the company's exploration road map. Recent proceeds from the warrant exercise will be used to fund drilling this summer and an NSR extension payment on the Carlin gold-vanadium project, for the initial evaluation of the recently optioned Crescent Valley gold project, for advancing company initiatives, and for working capital," commented Paul Cowley, company president and chief executive officer.
About Phenom Resources Corp.
Phenom has a 100-per-cent interest in the Carlin vanadium project, located in Elko county, six miles south from the town of Carlin, Nev., and Highway I-80, which hosts the Carlin vanadium deposit, North America's largest, highest-grade primary vanadium resource. The project lies in the Carlin gold trend. Approximately nine million ounces comprising multiple gold deposits, including past-producing mines, are present near the Phenom property (five to 15 kilometres).
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